New Mountain Finance Corporation $NMFC Stock Position Boosted by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in shares of New Mountain Finance Corporation (NASDAQ:NMFC) by 94.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,146 shares of the company’s stock after purchasing an additional 11,754 shares during the period. Cetera Investment Advisers’ holdings in New Mountain Finance were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Denali Advisors LLC boosted its position in shares of New Mountain Finance by 12.2% during the 1st quarter. Denali Advisors LLC now owns 118,966 shares of the company’s stock valued at $1,312,000 after purchasing an additional 12,895 shares in the last quarter. Muzinich & Co. Inc. boosted its position in shares of New Mountain Finance by 15.5% during the 1st quarter. Muzinich & Co. Inc. now owns 393,136 shares of the company’s stock valued at $4,336,000 after purchasing an additional 52,888 shares in the last quarter. Midwest Professional Planners LTD. boosted its position in shares of New Mountain Finance by 2.5% during the 1st quarter. Midwest Professional Planners LTD. now owns 145,346 shares of the company’s stock valued at $1,603,000 after purchasing an additional 3,513 shares in the last quarter. Prevail Innovative Wealth Advisors LLC boosted its position in shares of New Mountain Finance by 7.8% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 192,281 shares of the company’s stock valued at $2,121,000 after purchasing an additional 13,907 shares in the last quarter. Finally, MQS Management LLC boosted its position in shares of New Mountain Finance by 325.1% during the 1st quarter. MQS Management LLC now owns 46,305 shares of the company’s stock valued at $511,000 after purchasing an additional 35,411 shares in the last quarter. Institutional investors own 32.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NMFC. Oppenheimer set a $11.00 price objective on shares of New Mountain Finance and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Wells Fargo & Company reduced their price objective on shares of New Mountain Finance from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Finally, B. Riley assumed coverage on shares of New Mountain Finance in a report on Tuesday, May 13th. They issued a “neutral” rating and a $11.00 target price for the company. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.75.

New Mountain Finance Price Performance

NASDAQ NMFC opened at $10.34 on Thursday. The company has a 50 day simple moving average of $10.50 and a 200-day simple moving average of $10.68. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.61 and a beta of 0.82. New Mountain Finance Corporation has a 52-week low of $8.84 and a 52-week high of $12.44.

New Mountain Finance (NASDAQ:NMFC) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $83.49 million during the quarter, compared to analyst estimates of $84.57 million. New Mountain Finance had a net margin of 23.27% and a return on equity of 10.43%. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities research analysts predict that New Mountain Finance Corporation will post 1.39 earnings per share for the current fiscal year.

New Mountain Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 12.4%. The ex-dividend date of this dividend is Tuesday, September 16th. New Mountain Finance’s dividend payout ratio (DPR) is presently 168.42%.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.